Asia - Voice of America: China, Europe Cut Key Lending Rates

Asia - Voice of America asia

China, Europe Cut Key Lending Rates Jul 5th 2012, 15:53 Two of the world's biggest economies - China and the 17-nation euro currency bloc - are cutting key lending rates in a new effort to boost their flagging economic fortunes. The Chinese central bank Thursday cut its benchmark lending rate for the second time in a month, signaling that the world's second largest economy is slumping and faced with its biggest economic challenge since the 2008 worldwide recession. Beijing trimmed its one-year lending rate by nearly a third of a percentage ... Media files: 00624922-71BD-46A3-ACF8-B6225CFD73CC_cx0_cy3_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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